Backup Services

Securing your bottom line.

Bank of the West provides a wide range of backup and successor servicing options. We structure our backup services to provide all levels of business portfolio support. We understand that the needs of investors change over time. As such, Bank of the West is accustomed and prepared to modify the level of support as conditions change. Whether you require Hot, Warm or Cold Backup, Bank of the West stands ready to provide issuers, investors, trust groups and insurers with the support that only a highly rated, financially sound and experienced organization can offer.

Hot Backup

In a "hot" backup servicing arrangement, Bank of the West typically receives daily or weekly data files from the servicer. Upon receipt, Bank of the West provides validation of data which includes a complete listing of all accounts with key accounting data for reconciliation to the primary servicer's system. This will often involve the execution of a certification by Bank of the West that accurate data has been received.

Warm Backup

Upon receipt of the initial data file, Bank of the West will identify, map and convert all relevant data fields to our lease accounting system. In addition, we will script, test and validate a portfolio data conversion program. Typically our portfolio conversion program meets or exceeds a 98% automated conversion rate. Our staff has extensive experience working with all commercial lease accounting systems and in most cases, has performed numerous test and live conversions from them. Working with our clients, we will identify key reports and services designed to provide the level of security required for your portfolio. Utilizing the servicer's data, Bank of the West will test, benchmark and reconcile all key portfolio elements each month and will provide a comprehensive reporting package. Reporting frequently includes the tracking of trigger events and validation of key data elements on the Servicer's reports.

Cold Backup

Typically in a "cold" backup servicing arrangement, Bank of the West receives a month-end client data file. Upon receipt, we will review and validate the readability of the data. We'll provide secure storage and make the data immediately available to our clients as required.

Audits & Portfolio Transition

All backup services provided by Bank of the West include support of regular on-site audits by the trustee, insurer, servicer, the lender or a designated and approved third party. In the event Bank of the West is called upon to assume the primary servicing responsibilities, we are prepared to immediately acquire additional hardware, and staff as needed.